Nobel Prize-winning economist turned liberal political commentator Paul Krugman broke down for MS NOW's Ari Melber on Friday evening why the
"What is SpaceX? It's a medium-sized satellite launch company. That's an okay business, but it's not a huge business, attached to a really bad AI model. Grok is, by all accounts, terrible ... and that in turn is bolted to what's left of Twitter, which has been turned into a, you know, a right-wing, Nazi-infested wasteland."
"Ultimately, this is all it really is a Ponzi scheme but unlike most Ponzi schemes where all the suckers have to choose to opt into it, people are being forced effectively to buy into SpaceX because the indexes are including it, even though by the normal rules they should not, and there are now even universities that have 10 or 15 percent of their endowment invested in SpaceX."
The bottom line, Krugman concluded, is that "this is a rigged system … this is genuine rigging. Clearly the system has all been tilted into producing this absurd valuation that makes the world's first trillionaire."
